Dresdner Bank was merged into Commerzbank in May 2009. The acquisition of Dresdner Bank Monaco is in line with Bank Audi’s strategy to develop its private banking activities in Europe.
Dresdner Bank Monaco was founded in 2006 to focus on private wealth management in Monaco, the South of France and Northern Italy. By the end of 2008, its assets under control reached EUR233m.
The Bank Audi sal – Audi Saradar group offers a full range of universal banking services. At the end of September 2009, its consolidated assets were $24.7bn.
The transaction is subject to receipt of necessary regulatory approvals.
